German Economy Faces Downturn as Industrial Output and...
International News
August 18, 2023
Despite being a major economic force in Europe, Germany is currently experiencing concerning economic trends. The latest data reveals a worrisome scenario for the German economy. Industrial production in June exhibited a 1.5% decrease compared to the same period last year, following a previous decline of 0.5% in May. Additionally, the influential German automobile sector, known for its profitability, surprised markets with a significant 3.8% contraction in June.